Saratoga Racing, Inc. to acquire Wildwood Casino

Wednesday 11th March 2020

SARATOGA SPRINGS, New York (March 11, 2020) - Saratoga Harness Racing, Inc. (SHRI), owner of both Saratoga Casino Hotel in Saratoga Springs, NY and Saratoga Casino Black Hawk in Black Hawk, CO, announced today that they have entered into a definitive agreement with American Gaming Group, LLC (AGG) to acquire the operating assets of Wildwood Casino in Cripple Creek, CO.

The transaction is anticipated to close subject to the terms of the agreement and satisfaction of closing conditions, including regulatory approvals.

"Today's announcement is an exciting milestone for us," said Daniel W. Gerrity, President of SHRI. "We have been looking for opportunities to grow our portfolio of gaming assets to diversify SHRI and believe that Wildwood Casino represents the perfect fit for our company. We look forward to getting to know the property's dedicated and talented employees and the loyal guests that make Wildwood Casino so special."

Wildwood Casino opened in 2008 and is the newest full-service casino property in the Cripple Creek market. The property features over 500-slot machines, 14 table games, and is currently in the process of building a 102-room hotel that is anticipated to open by the end of 2020. The sale will also include operations of the 67-room Gold King Mountain Inn, Gas N' Roll and Daylight Donuts, all currently owned and operated by American Gaming Group, LLC and its subsidiaries.

"After initial discussions with multiple prospective buyers I felt that Saratoga not only presented the best offer but also had a proven track record that could help Wildwood continue to be the premier gaming destination in the area," said Joseph J. Canfora, CEO of AGG. "I am still invested in the growth and development of Cripple Creek so it was important to find a buyer who would be a good corporate citizen for the area, our guests and our team members."

SHRI owns and operates Saratoga Casino Hotel, in Saratoga Springs, NY featuring over 1,200 slots, electronic table games, a live entertainment venue, a variety of dining options and bars, live harness racing, and simulcast wagering. SHRI also owns and operates Saratoga Casino Black Hawk, located in the historic town of Black Hawk, CO featuring over 425 slot machines, 10 table games, a full-service restaurant, bar and a variety of guest services. SHRI is also a partner with Delaware North Companies in the operation of Gideon Putnam Resort and Roosevelt Baths in Saratoga Springs, NY. Additional information about Saratoga Casino Hotel can be found at www.saratogacasino.com.

Wildwood Casino is a top-rated, 24-hour-gaming, Vegas-style casino located in the historic mining town of Cripple Creek, Colorado. "The Highest Casino in the World" operates over 500 slots, table games and multiple dining options as well as the 67-room Gold King Inn and the Gas N' Roll gas station and convenience store. Wildwood is in the process of building a new 102-room hotel tower adjacent to the casino. Additional information can be found at www.wildwoodcasino.net.

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